Walt Disney head seeks regulatory certainty for govt

MUMBAI: Asking for certainty in business environment in the country, global entertainment giant Walt Disney International Chairman Andy Bird today said clear policies and firm decisions can attract greater investment to India.

"It's critical for everyone involved to at least understand what the rules of the marketplace are and to be fairly confident that those rules are not going to change unexpectedly," Bird said in keynote address at the 14th edition of the Ficci-Frames here.

Bird, whose company expanded its India play with the takeover of the Ronnie Screwwala-promoted UTV for around Rs 2,000 crore last year, said the clarity in the policymaking will increase investments flows into the country.

"The more certainty India can create with clear policies and firm decisions, the greater interest and investment it will attract and the faster it will achieve its goals for this industry and beyond," Bird said.

The economy has been unsuccessful at increasing more FDI inflows and face the risk of high current account deficit which had hit a record 5.4 per cent in Q2.

The reservations among the foreign investors stem primarily from taxation policies, especially with retrospective effect.